en.Wedoany.com Reported - Qatari Diar, the real estate subsidiary of the Qatar Investment Authority, plans to invest $828 million over the next four years to develop hotels in East Cairo and Sharm El-Sheikh.

Qatari Diar plans to build four hotels with a total of 1,000 rooms within the City Gate project in the Fifth Settlement, East Cairo. These four hotels will be developed in partnership with global hotel brands. According to Al-Mal newspaper, Qatari Diar possesses a land bank of 64 million square meters in Egypt. It has developed 8 million square meters so far and aims to expand the developed area to 18 million square meters within the next three years.

In Sharm El-Sheikh, Qatari Diar is finalizing a feasibility study for a luxury hotel complex covering 470,000 square meters, with an estimated cost between $350 million and $500 million. The study is expected to be completed within 18 months, and hotel construction is scheduled to begin in 2027.

In November 2024, Qatari Diar signed a cooperation agreement to develop a project with a total investment of $30 billion on Egypt's Mediterranean coast. The company is completing the final design of the master plan for the Alam Al-Roum project, located 480 km northeast of Cairo, with construction expected to start in the fourth quarter of 2026. The initial phase of the project will include residential, tourism, and hotel facilities, with an estimated investment of $1 billion.

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